A bearish tone prevailed in the 4 hours chart. The price remained intact under pressure around 1320. The resistance is at 1330, the support comes in at 1320 dollar per ounce.
A downtrend will start as soon, as the pair drops below the support level 1320. Sellers will push the price towards 1315. A break above 1325 will strengthen bulls' positions. They will be able to drive the metal higher towards 1330 dollar per ounce.
Oil prices closed bullish yesterday. The price rallied from 45.30 through 46.50, 47.50 and 48.50. The resistance is at 48.50, the support comes in at 47.50 dollars per barrel.
The price shall retreat from the reached high towards 47.50. This will be a technical rebound amid a profit taking. We expect Brent to extend its strengthening in the nearest time.
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